Liquidator: "I consider that an agreement for HQ Bank is close".

• HQ Bank announces involuntary liquidation
• Carnegie stopped from saving Sweden's HQ Bank

The liquidator for Swedish investment bank HQ Bank, which has been forced into involuntary liquidation after financial authorities revoked its licences, said Wednesday that a deal to sell the bank is within reach.

"I consider that an agreement for HQ Bank is close," lawyer Bjorn Riese said in a statement, adding that negotiations would take place Wednesday.

"This issue is set to be considered and decided on in the boards concerned during the day (Wednesday)," Riese said.

HQ Bank, which manages about 60 billion kronor (6.3 billion euros, 8.1 billion dollars) from some 20,000 depositors, said on Tuesday it had appealed against its forced liquidation and hoped eventually to find a buyer.

The same day the Stockholm stock exchange halted trading in shares of the bank.

On Saturday, Sweden's Financial Services Authority announced it had revoked HQ Bank AB's licence because it had breached Swedish legislation and demonstrated serious deficiencies in its trading operations.

The bank is expected to be open on Friday.

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Last Updated (Thursday, 02 September 2010 22:14)